Crypto Flipsider News – May 5th – Dogecoin, Chainlink, Tether, Janet Yellen, China DCEP, PayPal By DailyCoin

Greetings to people who are not indifferent to crypto,

DailyCoin flipsider speaks again. Today is Wednesday, May 5th. The middle of the week, in which Dogecoin rocks. Probably, on a SpaceX rocket.

Read in the digest:

• “Who let the dog out?”
• Tether listed in Coinbase, but only the version of it
• Chainlink reached a $50 price for the first time
• Janet Yellen speaks, the market trembles
• China is vigilant about crypto, as always
• PayPal is thinking about its own crypto?

Dogecoin Reached Its All-Time-High of $69

Yesterday, it became the fourth crypto by market capitalization, overtaking . Today, it reached the price of $0.69 for one unit. Now, it’s bigger than Nintendo. No more praises for it. If you’d like to know more, check our latest article on the coin here and here.

Flipsider:

• Dogecoin has a big army of followers as well as haters. I will stay aside from this. Just invest with caution if you do this.

Tether is Listed in Coinbase

Despite its transparency problems, Tether is moving forward. Coinbase confirmed to support only the Ethereum version of Tether but not , Tron, or Algorand alternatives.

Flipsider:

• Good news for the coin, after it was surpassed by DOGE. On the other hand, the news doesn’t change the fact that it might be a ticking bomb. We disclosed this situation in detail, check it.

Chainlink Reached $50 Price for the First Time

While Dogecoin surfs on the waves of hype, Chainlink adopted the strategy “Slow and steady wins the race.” The coin was steadily rising the entire week.

Flipsider:

• Many people are still questioning layer 2 scaling solutions. Chainlink adopted those in an update together with new smart contracts. DailyCoin discussed this phenomenon here.

Janet Yellen Speaks, the Market Trembles

Treasury Secretary of United States mentioned that is “extremely inefficient” for monetary transactions.

Flipsider:

• Just three words: Biden’s policy-making.

China is on Watch for Own Crypto

There appeared news from the Asian dragon about their digital currency. Although it haven’t been launched, Chinese bank presented prototype ATMs that can work with it and convert real currency into DCEP.

Flipsider:

• After the Xinjiang accident and confirmation of the rumor that the Beijing government’s collection data center was conducting mining activities, they need to “score good points” and “get positive credits.”

Is PayPal Creating Own Stablecoin?

All we know is Ava Labs, the team created the Avalanche blockchain, constantly having talks with PayPal, probably about stablecoin development, as previously the company showed ambitions for it.

Flipsider:

• After the Xinjiang accident and confirmation of the rumor that the Beijing government’s collection data center was conducting mining activities, they need to “score good points” and “get positive credits.”

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